Cognos job scheduling error

I have two Cognos metric jobs one job is to update the information in content store and other metric store job is for loading the data from staging are to metrics store. My objective is whenever the job fails we have to trigger a mail to the concerned User/Group.

1. How it can be achieved in Cognos Scheduler?
2. Can we create a Audit report and schedule it on daily basis?
2. If it is done through Event Studio what are steps can be taken care of?

If not the above what is the other way around means any third party tool.

Finally what is the best way to do so? Your Ideas and suggestions are most welcome.